US auto sales post gain in 2018

Despite sales of the Lordstown-made Chevrolet Cruze sinking 25 percent, the U.S. auto industry ended 2018 on a strong note, although analysts expect sales to slow this year.

Automakers reported a sales increase of 0.3 percent in 2018 to 17.27 million vehicles.

“New-vehicle sales were surprisingly strong in 2018 despite late-cycle headwinds from higher interest rates and more nearly new competition in the used market,” said Jonathan Smoke, chief economist at Cox Automotive, who attributed that to “stimulated demand” from federal incometax cuts.

However, “that boost is not likely to be repeated in 2019,” Smoke said.

General Motors, which plans to close the assembly plant in Lordstown in northeastern Ohio’s Trumbull County in March, posted sales declines in the full year and the fourth quarter, according to a sales report released Thursday.

GM reported delivering more than 2.9 million vehicles in 2018, a 1.6 percent decline from 2017. Its 785,229 sales in the United States in the fourth quarter represented a 2.7 percent drop from the same quarter in 2017.

GM’S crossover segment performed well in 2018, with more than 1 million sales, a 7 percent increase over 2017.

GM reported delivering 142,617 Cruze sedans and hatchbacks in 2018. GM will end production of the Cruze on March 11 and has no plan to put another product in the plant.

Among other automakers, Fiat Chrysler Automobiles US reported that its total U.S. sales rose 9 percent in 2018 to more than 2.2 million. Its retail sales of more than 1.7 million were the highest since 2001.

Ford Motor

Co. posted an 8.8 percent sales decline in December, to 220,774. Ford’s 2018 total was nearly 2.5 million vehicles, a 3.5 percent decline from 2017.

American Honda reported 2018 sales of 1.6 million vehicles, a 2.2 percent drop from last year.

Toyota Motor North America reported sales of more than 2.4 million vehicles, a 0.3 percent decrease from 2017.

Kelley Blue Book said Thursday that the estimated average transaction price for light vehicles in the U.S. rose in December to $37,577, a 1.3 percent increase from December 2017 and a 0.2 percent decrease from November 2018.